Category Archive: 5) Global Macro

The Silent Exodus Nobody Sees: Leaving Work Forever

The "take this job and shove it" exodus is silently gathering momentum. The exodus out of cities is getting a lot of attention, but the exodus that will unravel our economic and social orders is getting zero attention: the exodus from work. Like the exodus from troubled urban cores, the exodus from work has long-term, complex causes that the pandemic has accelerated.

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Uh Oh, The Dollar Has Caught A Bid

Anyone who follows Alhambra knows that we keep an eye on the dollar. It is a very important part of our process of identifying the economic environment. A rising dollar, when combined with a falling rate of growth, can be a lethal combination. That was the situation in March and of course during the financial crisis of 2008.

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Jeff Snider: What happens if Dollar LOSES RESERVE STATUS? (RCS Ep75)

Topics: What would happen to the US economy long term if the Dollar is no longer the global reserve currency? US privilege/burden since Bretton Woods. Euro dollar system: what’s wrong with it? Hypothetically, how would it have been better/more sustainable?

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Dollar Remains Firm Ahead of Powell Testimony

The dollar remains firm on continued safe haven flows but we still view this situation as temporary. Fed Chair Powell appears before the House Financial Services Panel with Treasury Secretary Mnuchin; the text of Powell’s testimony was released already.

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Inflation and “Socialism-Lite” Are Just What the Billionaires Want

After a bout of inflation and "socialism-light", we could end up with even more extreme inequality when the whole rotten structure collapses.

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Charles Hugh Smith: What Would A Better System Look Like?

Writer, philosopher and long-time contributor to PeakProsperity.com, Charles Hugh Smith, returns to the podcast to explain the new socio-economic model he has just introduced to the world through his new book A Hacker’s Teleology: Sharing the Wealth of Our Shrinking Planet.

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Dollar Gains from Risk-Off Trading Unlikely to Persist

Markets are starting the week in risk-off mode; the dollar is firm on some safe haven flows but this is likely to prove temporary. US politics is coming in to focus as the election nears; we fear that the likely horse-trading and arm-twisting will take away any residual desire to get another stimulus package done.

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“Inflation” and America’s Accelerating Class War

Those who don't see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling. I recently came across the idea that inflation is a two-factor optimization problem.

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If Dollar Is Fixed By Jay’s Flood, Why So Many TIC-ked At Corporates in July?

When the eurodollar system worked, or at least appeared to, not only did the overflow of real effective (if virtual and confusing) currency “weaken” the US dollar’s exchange value, its enormous excess showed up as more and more foreign holdings of US$ assets.

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27.3 US Retail Sales and Industrial Production in AUG

What do the latest figures tell us about the world's most important consumer? Jeff Snider reviews retail sales, industrial production and asks what is it that is missing from our post 2007-08 economy that precludes robust recovery.

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Reopening Inertia, Asian Dollar Style (Still Waiting On The Crash)

Why are there still outstanding dollar swap balances? It is the middle of September, for cryin’ out loud, and the Federal Reserve reports $52.3 billion remains on its books as of yesterday.

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Risk Appetite Ebbs Ahead of BOE Decision

The dollar has gotten some limited traction despite the dovish FOMC decision; the FOMC delivered no surprises. We are seeing some more movement on fiscal stimulus; August retail sales disappointed yesterday.

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Putin, the poisoning and Belarus: what’s really going on? | The Economist

Vladimir Putin has been rattled by protests in Belarus and Russia’s far east—and stands accused of poisoning Alexei Navalny, his only real political rival at home. What does Putin really fear? Further content: Sign up to The Economist’s daily newsletter to keep up to date with our latest coverage: https://econ.st/3c7QSUD Watch our film about covid-19 in Russia: https://youtu.be/7tziw5i3vy8 Read about the uprising—and violent government...

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12 States That Keep Retirement Dollars in Your Pocket

“Will I outlive my money?” That’s one of the biggest concerns for most retirees. There’s the high cost of medical care, which gets more expensive all the time. There’s inflation, which raises the cost of goods and services, eating into your retirement budget.

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Medical Reimbursement Accounts



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David Attenborough talks about his new Netflix film | The Economist Podcast

Sir David Attenborough is about about to release his latest film—on Netflix. The 93-year old tells Economist Radio's Anne McElvoy about “A Life On Our Planet”, as well as offering his opinions on President Trump, Greta Thunberg and eating meat. 00:00 Sir David Attenborough’s career and new film 01:22 What's Chernobyl got to do with climate change? 02:51 Criticisms of being late to address climate change 03:51 Sir David’s first memory of climate...

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Sacrifice for Thee But None For Me

The banquet of consequences for the Fed, the elites and their armies of parasitic flunkies and factotums is being laid out, and there won't be much choice in the seating. Words can be debased just like currencies. Take the word sacrifice. 

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China’s Hole Puzzle

One day short of one year ago, on September 16, 2019, China’s National Bureau of Statistics (NBS) reported its updated monthly estimates for the Big 3 accounts. Industrial Production (IP) is a closely-watched indicator as it is relatively decent proxy for the entire goods economy around the world. Retail Sales in the post-Euro$ #2 context give us a sense of the Chinese economy’s persistent struggle to try to “rebalance” without the pre-2008 boost...

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Inflation Karma

There is no oil in the CPI’s consumer basket, yet oil prices largely determine the rate by which overall consumer prices are increasing (or not). WTI sets the baseline which then becomes the price of motor fuel (gasoline) becoming the energy segment. As energy goes, so do headline CPI measurements.

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The Four D’s That Define the Future

When the money runs out or loses its purchasing power, all sorts of complexity that were previously viewed as an essential crumble to dust. Four D's will define 2020-2025: derealization, denormalization, decomplexification and decoherence. That's a lot of D's. Let's take them one at a time.

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